Page 197 - Contributed Paper Session (CPS) - Volume 8

CPS2237 Fadzilah Aini Mutaffa et al.
publication was officially released to the public in November 2014. The
compilation of ICTSA is by annual basis and the latest publication was ICTSA
2017.

3. Result
Even though the global digital economy is evolving at a rapid pace, there
is a significant disparity among the development of the digital economy in
different countries around the world. The digital economy now permeates
countless aspects of the world economy, impacting sectors as varied as
banking, retail, energy, transportation, education, publishing, media or health.
Information and Communication Technologies (ICTs) are transforming the
ways social interactions and personal relationships are conducted, with fixed,
mobile and broadcast networks converging, and devices and objects
increasingly connected to form the Internet of Things (OECD, 2015).
According to Bukht & Heeks (2017), there are three elements relating to
the conceptualisation of the digital economy comprises of digital sector or ICT
sector, broad scope and narrow scope. The digital sector was define using
OECD definition covers International Standard Industrial Classification
Revision 4 (ISIC Rev. 4). Broad scope covers e-business (ICT enabled business
transactions) and its subset, e-commerce (ICT enabled external business
transactions), algorithmic decision making in business, use of digitally
automated technologies in manufacturing and agriculture including Industry
4.0 and precision agriculture, etc. Meanwhile, narrow scope was based on the
notion of intensive and extensive applications of ICTs. Through this approach,
the digital economy would represent all extensive applications of digital
technologies plus the production of those digital technologies covers the
digital sector, digital services, and emergent phenomena such as platform
economy, gig economy and sharing economy (Exhibit 1).

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